15 July 2009 08:41 [Source: ICIS news]
LONDON (ICIS news)--European July styrene acrylonitrile (SAN) contracts have settled up by €70-100/tonne ($97-139/tonne) from June as a result of higher feedstock values, sources said late on Tuesday.
“Manufacturers took extremely tough stances due to higher feedstock values, which made resistance to increases difficult,” a buyer said.
Compounding-grade SAN was assessed at €1,300-1,350/tonne, while commercial grades were at €1,450-1,600/tonne, according to global chemical market intelligence service ICIS pricing.
Speciality grades rose by €50-100/tonne to €1,650-2,500/tonne.
All prices were on a free delivered (FD) northwest Europe (NWE) basis.
Producers had originally looked for increases of €120/tonne.
“This increase of around €100/tonne still won’t recover margins that have thinned since the start of the year,” a manufacturer said.
Continually rising feedstock costs in ?xml:namespace>
“Declining oil and feedstock prices in Asia, however, will result in an increase in European SAN imports from
Sellers said that SAN demand in
Buyers disagreed, saying that demand was weak, especially for compounding grade.
($1 = €0.72)
For more on SAN visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections